Rapid Turnaround for Re-bridging

A couple got in touch with us to help source bridging finance to replace an existing bridging loan. With the existing bridging loan coming to the end of its term, the clients required a rapid exit route.

The clients had an outstanding mortgage on the property with an existing lender, so second charge consent was needed. Quick communication between our team, and the clients existing lender meant we were able to obtain second charge consent within a day, allowing us to proceed with processing the new bridge.

Due to tight deadlines, we conducted a desktop valuation to speed things up. After scanning our extensive lender panel, we sourced a lender offering the full loan amount of £105,000 with an interest rate of 1.19%. Our flexibility combined with our frequent communication with the lender meant the clients were able to repay their existing bridge on time. The exit plan is the sale of the client’s residential property, which is valued at £1M and currently on the market.